More than 25,000 first buyers in England who are currently completing a purchase of real estate, is predicted that they will miss the deadline of the stamp rights at the end of March and will be completed in April.
According to the latest study by Rightmove, which also reveals that a total of nearly 74,000 movers in England will miss the deadline and be completed in April, with a collective £ 142 million in extra stamped payments on the line:
In particular for first buyers, there will be an estimated £ 34 million in extra payments on the line for those who complete in April.
Due to the thresholds of the seal rights, different types of buyers will be disproportionately affected by the coming changes.
An average home confirmation in England will be confronted from 1 April with an extra £ 2,500 in stamp -right costs. Although the first buyers of Huizen are priced at £ 300,000 or less, no stamp rights continue to pay, his first buyers of houses priced between £ 500.001 and £ 625,000 The most affected group of all, confronted with an extra £ 11,250 in costs.
On a regional basis, the southeast contains most buyers who simply miss the deadline and most home-movers in England will receive an extra cost of £ 2,500 from 1 April.
Rightmove predicts a transport logot as movers to complete before the deadline, with mainly buyers in London who are particularly affected. Consequently, Rightmove calls for a brief expansion of the deadline of the seal rights, to help the 74,000 home movers currently missed and completed in April
Rightmove’s real estate market expert Colleen Babcock said: “We expect to complete an almost close to March 31, because buyers and home-movers try to prevent extra tax from being paid. Our figures show how there is a relatively small but disproportionately affected group of first buyers who will be caught by the changing thresholds, which emphasizes some differences in the way the current system works. “
She added: “With 74,000 people who have only missed the deadline, partly because of the extremely long completion times in England, we think it would be logical to provide a short extension to the deadline and to help these movers, Instead of confronting them with higher costs when they complete later in April. “